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Financing Set For Hovermarine HM.2 Production Facility Hovermarine Corporation, Pitts- burgh, Pa., has announced agree- ment in principle for financing its new manufacturing facility in Titusville, Fla. The new plant will have a production capacity of 24 commercial surface effect ships a year. Hovermarine is a Pittsburgh- based manufacturer of the H'M.2 Hoverferry, a 60-'passenger craft in use in commuter and mass trans- portation applications around the world. Under the financing plan, the city of Titusville will issue indus- trial development revenue obliga- tions covering the cost of real es- tate, improvements, buildings and special tooling. Hovermarine will occupy the premises under a lease purchase agreement with the city. William A. Zebedee, Hover- marine chairman, also announced that the company has arranged for sale of all of the obligations to Pittsburgh National Bank under a seven-year repayment agreement. Hovermarine's facility is under construction on land adjacent to Thompson Trawlers, Inc., from whom the land is being purchased. Earlier, Hovermarine and Thomp- son Trawlers announced an agree- ment in principle regarding joint aspects of the Hovermarine pro- gram to begin manufacture of the HM.2 Hoverferry in the United States. For the past few months, Hover- marine has occupied space within the Thompson Trawlers complex to construct special tooling neces- sary for production of the fiberglass hull of the HM.2 surface effect ships. Work on the initial set and on a second set of special tooling has been completed. Each set will al- low construction of 12 of the HM.2 surface effect craft annually. The new shipbuilding facility will contain some 20,000 square feet of manufacturing area. Initial oc- cupancy is planned for this month, with full production scheduled within 30 days. Brazilian Yard Offers New Design For Ship Companhia Comercil e Nave- gacao (iOCN) of Rio de Janeiro, the Brazilian shipyard, is to offer on the market a new design of ship called the Prinasa 26-15, according to London sources. The vessel is a 26,500-dwt bulk carrier which has 'been designed through computer techniques by the Senner, the Spanish marine consultants and naval architects, in association with OCN's own de- sign company Prinasa. OCN's chairman Paulo Ferraz said: "Our market research indi- cates that there is a large demand for an economical vessel of this tonnage and design. The first ship can be delivered in 1976, and we are confident of winning many or- ders for it both at home and over- seas." Mr. Ferraz continued: "I be- lieve the Prinasa 26-15 can pro- vide us with the same kind of se- ries production which we have suc- cessfully achieved with the SD-14 and our redesigned version of the SD-15, the Prinasa 121." The Prinasa 26-15 has five holds, and its design can be adapted to carry 513 twenty-foot containers. ARCO CONTRIBUTES TO WEBB: Samuel S. Morse, right, presents the 1 973 Atlantic Richfield contribution in support of Webb Institute of Naval Architecture to Webb president William A. Brockett in the Liv- ingston Library on the Webb campus at Glen Cove, L.I., New York. Mr. Morse, chief naval architect-marine transporta- tion, Atlantic Richfield, is a 1933 grad- uate of Webb. pi W^MTP £RP i wm J HEEmm SSSRS You asked for more length on a Crewboat so here's more length, more beam, more power, more seats, more berths, ... and for not much more money. Length: 100' Beam, Amidships: 22 Open Deck Space: 47' ABS Classified and Load Lined Coast Guard Certified for 150 miles Speed: 27 m.p.h. Certified Deck Load: approximately 30 tons Fuel Capacity: 3000 gallons Potable Water: 500 gallons Power: Three 12V71 turbocharged GM diesels Twin 30 KW generators Seats: 72 Berths: 20 The conqueror — Tested in every type of water. Ready to replace your 88' model for bigger jobs. Swiftships Builds All Types of Ships. For Full Information Write or Call Jerry Hoffpauir, Swiftships Inc. Morgan City, LA, P. 0. Box 1908, PHONE (504) 384-1700. TELEX 586543. sujiftsh'ps inc. Post Office Box 1908 Morgan City, Louisiana 70380 110' CREW SUPPLY BOAT 87' CREW BOAT 50' PILOT BOAT 22 Maritime Reporter/Engineering News
